The Ghana National Petroleum Corporation has restated its commitment to achieving full operatorship as it strengthens technical competence and financial sustainability, officials announced at the corporation’s second annual general meeting in Accra.
The meeting held at the Marriott Hotel under the theme Consolidating Our March Towards Operatorship brought together representatives from the Ministry of Finance, the State Interests and Governance Authority (SIGA), members of the Ghana National Petroleum Corporation (GNPC) Board, management, and other key stakeholders.
Members received and considered GNPC’s 2024 Annual Report, which outlined the corporation’s operational and financial performance for the year under review. The report reflected steady performance, including stable oil production, increased gas exports, and significant progress on strategic projects.
John Abdulai Jinapor, Minister for Energy and Green Transition, commended GNPC for its continued role in safeguarding Ghana’s petroleum interests. He urged the corporation to accelerate capacity building efforts towards operatorship.
“The energy transition makes capacity building a necessity, and GNPC must continue to develop the expertise needed,” Jinapor stated.
He highlighted government interventions to address industry challenges including declining oil production, low investment inflows, and gas infrastructure gaps. The Minister assured that the Ministry of Finance and Energy are collaborating to resolve GNPC’s gas debt exposure and ensure long term financial stability.
Joseph Oteng Adjei, GNPC Board Chairman, said the corporation’s performance demonstrated resilience and focus in advancing its operatorship agenda. The focus remains building technical competence, institutional strength, and financial prudence to sustain GNPC’s long term value, he stated.
Acting Chief Executive Officer Kwame Ntow Amoah presented the operational performance highlights, noting that whilst oil production saw a marginal decline of 0.3 percent, gas exports rose by 10 percent. He cited steady progress on the Research and Technology Centre, commissioning of GNPC’s Energy House operational head office in Takoradi, revitalization of EXPLORCO, and progress on the Voltaian Basin Project as major milestones.
The annual general meeting also highlighted GNPC’s commitment to environmental sustainability through the integration of Environmental, Social, and Governance (ESG) principles and alignment with Ghana’s Updated Nationally Determined Contributions under the Paris Agreement.
Richard Gyan, Deputy Minister for Energy and Green Transition, reiterated the government’s confidence in GNPC’s leadership and pledged continued support from the Ministry to ensure the corporation’s operational and financial success. The meeting was brought to a close with members considering and voting on significant resolutions.
GNPC is the state owned oil company mandated to explore, develop, and manage Ghana’s petroleum resources. The corporation continues to play a pivotal role in ensuring energy security, promoting sustainable development, and positioning Ghana as a competitive player in the global energy industry.
